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Are there new reporting or compliance requirements under SECURE 2.0 for SIMPLE IRAs?

SECURE 2.0 introduced various reporting updates across the retirement industry, but SIMPLE IRA plans remain relatively low in administrative burden compared to other plans.

They are still generally exempt from Form 5500 filings and complex testing requirements.

However, employers adopting new features such as Roth contributions or student loan matching may need updated documentation and proper recordkeeping.

WealthRabbit helps centralize plan information and supports compliance best practices.